Amgen And GSK Form Drug Partnership

Amgen has partnered with GlaxoSmithKline to sell denosumab, a monoclonal antibody in development to treat osteoporosis, in Europe, Australia, New Zealand, and Mexico. GSK will pay $120 million up front and royalties on sales of the drug in those markets. It will also seek approval to commercialize the drug in emerging markets, such as China and India. Amgen is holding on to the rights to the drug in the U.S., where it already has a strong marketing presence. Analysts expect the drug to bring in $2 billion in sales in the U.S. alone by 2014. Denosumab is also being developed to treat cancer, an indication for which Amgen retains exclusive rights.